Bank of New York Mellon Corp Sells 4,756 Shares of Encore Capital Group, Inc. (NASDAQ:ECPG)

Bank of New York Mellon Corp reduced its position in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 2.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 238,857 shares of the asset manager’s stock after selling 4,756 shares during the quarter. Bank of New York Mellon Corp owned 1.02% of Encore Capital Group worth $11,613,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ECPG. Royal Bank of Canada boosted its stake in shares of Encore Capital Group by 9.6% during the 3rd quarter. Royal Bank of Canada now owns 2,423 shares of the asset manager’s stock worth $110,000 after acquiring an additional 213 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Encore Capital Group by 1.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 33,647 shares of the asset manager’s stock worth $1,944,000 after acquiring an additional 317 shares during the last quarter. M&T Bank Corp boosted its stake in shares of Encore Capital Group by 8.7% during the 1st quarter. M&T Bank Corp now owns 4,874 shares of the asset manager’s stock worth $246,000 after acquiring an additional 391 shares during the last quarter. Inspire Investing LLC boosted its stake in shares of Encore Capital Group by 6.8% during the 2nd quarter. Inspire Investing LLC now owns 6,469 shares of the asset manager’s stock worth $315,000 after acquiring an additional 413 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Encore Capital Group by 1.2% in the third quarter. Alliancebernstein L.P. now owns 38,130 shares of the asset manager’s stock worth $1,734,000 after buying an additional 456 shares during the period.

Encore Capital Group Price Performance

ECPG stock opened at $42.41 on Friday. Encore Capital Group, Inc. has a one year low of $34.74 and a one year high of $58.46. The company’s fifty day moving average price is $44.93 and its 200-day moving average price is $47.37. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $997.91 million, a PE ratio of -86.55 and a beta of 1.45.

Encore Capital Group (NASDAQ:ECPG) last issued its earnings results on Wednesday, November 1st. The asset manager reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.56). Encore Capital Group had a negative return on equity of 0.34% and a negative net margin of 0.75%. The firm had revenue of $309.62 million during the quarter, compared to the consensus estimate of $332.57 million. During the same period last year, the firm posted $1.22 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities analysts anticipate that Encore Capital Group, Inc. will post 4.01 EPS for the current fiscal year.

Analysts Set New Price Targets

ECPG has been the topic of several recent research reports. StockNews.com initiated coverage on Encore Capital Group in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. JMP Securities reduced their price objective on shares of Encore Capital Group from $61.00 to $56.00 and set a “market outperform” rating for the company in a research note on Monday, November 6th. Finally, Truist Financial reissued a “buy” rating and issued a $73.00 price objective on shares of Encore Capital Group in a research note on Thursday, September 21st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.33.

Encore Capital Group Profile

Encore Capital Group, Inc, a specialty finance company, provides debt recovery solutions and other related services for consumers across financial assets worldwide. The company purchases portfolios of defaulted consumer receivables at deep discounts to face value, as well as manages them by working with individuals as they repay their obligations and works toward financial recovery.